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uchumi
Wendz
#21 Posted : Monday, February 01, 2010 2:45:09 PM
Rank: Elder


Joined: 6/19/2008
Posts: 4,268
May be i am being over ambitious but i see it going the paka route and hitting 3/=... this is mainly because our market is a sentimental market and PEs and EPS only work with the very few elite investors.... but a market driven by emotions are hard to predict... I see majority selling based on their long-term sentiments of Uchumi being in Receivership and not necessarily the fact that it has actually come from loss-making to profit-making.... few companies make it out of the receivership woods and faster as uchumi has... at below 5(because i know some will jump out at whatever cost), i shall not mind collecting.....
muganda
#22 Posted : Monday, February 01, 2010 3:06:27 PM
Rank: Elder


Joined: 9/15/2006
Posts: 3,905
Remember we buy businesses and not shares...

Lastest update: This weekend visited both Nakumatt and Uchumi shopping and I must say I've began wondering whether the days of plenty are over for Nakumatt.

On visiting Uchumi Sarit, the guys were bussssy and full shopping trollies to boot. Ambience can improve but all favorite products were in stock unlike Nakumatt who always seem to have a story why leading brands are not on the shelf from as far back as December.

Think the secret is for them to focus on household - uchumi - shopping and forget about all those upper class (sofas, microwaves, clothes) aspirations.

May decide to keep my shares longer than I thought...
yekeyeke
#23 Posted : Monday, February 01, 2010 3:57:38 PM
Rank: Member


Joined: 6/4/2008
Posts: 345
Muganda. Are you able to expound on your observations? What could you not get at Nakumatt that you could get in Uchumi? Would just like to know.
From what you observed, does it look like Uchumi will make the 18-20 Million customers targetted in 2009-2010 Financial year? If so then the projected 500M in proffits could just happen.
If this is the case, i will not sell any of my 90K shares. I will wait a bit longer. I have waited for 4 years anyway. What diff does one more make?
yekeyeke
#24 Posted : Monday, February 01, 2010 4:14:15 PM
Rank: Member


Joined: 6/4/2008
Posts: 345
For all those who would be interested, you can watch the below interview of Jonathan Ciana with CNBC africa. Interesting...

http://www.abndigital.co...ed-interviews/391024.htm
muganda
#25 Posted : Monday, February 01, 2010 6:26:44 PM
Rank: Elder


Joined: 9/15/2006
Posts: 3,905
@yeke the products that took us to Uchumi that day after shopping at Nakumatt were Pampers, Always, Pure Health Uji, Elianto. Okay maybe there's a claim that Elianto is out of stock, but since Dec, and all retail sizes?

It may not be a money issue, perhaps stocking policy that sometimes results in other products having leading shelf space?

It wont be easy but the battle is just beginning. Uchumi can maintain the 30% y-o-y growth in their middle-class customers. Customers would be reclaimed from Nakumatt (no 1) and Tuskys (no 2). Then recall how Uchumi, in its hey days, was perceived as a brand that helps small businesses - very Kenyan.
VituVingiSana
#26 Posted : Monday, February 01, 2010 6:35:06 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,118
Location: Nairobi
@muganda - Elianto is now a brand owned by Bidco (I think)...

So were other Bidco products available in Nakumatt? (which Makumatt is this bila a bidco product?)
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
muganda
#27 Posted : Monday, February 01, 2010 6:47:19 PM
Rank: Elder


Joined: 9/15/2006
Posts: 3,905
@VVS, good one, of the 3 that 4th one was tricky. Could be genuine.

Remembered the Bidco angle and checked. There were 1/2 other Bidco products and that's why I believed in December. But man, both Westgate and Village didn't have recently and when I pressed harder to a more senior guy he's of '...or there was a slight issue which was sorted out...'
gathinga
#28 Posted : Friday, February 26, 2010 10:21:53 AM
Rank: Veteran


Joined: 11/30/2006
Posts: 635
Any wazuans with up to date info on Uchumi's application for re-listing?
VituVingiSana
#29 Posted : Friday, February 26, 2010 1:36:34 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,118
Location: Nairobi
Nothing but it is a process. Why anyone thought it would be in Feb 2010 was mistaken... I think it will be after June 30 2010 (in the new financial year)
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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